Bitcoin $78,140 as ETFs see $1B outflows

Bitcoin fell back toward the $78,000 level this week as money moved out of U.S. spot Bitcoin exchange-traded funds and crypto legislation advanced in Washington. Farside Investors data show the ETFs recorded about $1.03 billion in net outflows across the five trading sessions from May 11 through May 15. CoinMarketCap data show Bitcoin closed at $78,131.43 on May 16, down from $82,138.93 on May 10. The Senate Banking Committee, meanwhile, voted 15-9 on May 14 to advance the Digital Asset Market Clarity Act of 2025 to the full Senate. ### How large were the ETF withdrawals? Farside Investors reported net flows of $27.2 million on May 11, followed by outflows of $233.2 million on May 12, $630.4 million on May 13, inflows of $131.3 million on May 14 and outflows of $290.4 million on May 15. Added together, that left the group down about $995.5 million for the week. The largest single-day move was the May 13 withdrawal. (farside.co.uk) CoinDesk reported that investors had pulled about $1.26 billion from U.S. spot Bitcoin ETFs over the previous five trading days as of May 14, including a $635 million one-day outflow on Wednesday. That tally reflects a slightly different cut-off and data timing than the Farside week ending May 15, but both point to a sharp reversal after earlier inflow stretches. (farside.co.uk) ### Which funds were hit hardest? BlackRock's IBIT, Fidelity's FBTC and Bitwise's BITB accounted for much of the week's pressure, according to Farside's daily table. On May 13 alone, IBIT lost $133.2 million, FBTC lost $35.4 million and BITB lost $177.1 million. On May 15, IBIT shed another $39.6 million, FBTC lost $11.6 million and BITB lost $52.5 million. Grayscale's GBTC also remained a drag. (coindesk.com) Farside showed GBTC outflows of $17.6 million on May 12, $31.6 million on May 14 and $43.6 million on May 15. Since launch, Farside's cumulative table shows GBTC with negative net flows of about $26.4 billion, far larger than any other product's running total. ### Where did Bitcoin trade during the selloff? CoinMarketCap's daily history shows Bitcoin opened May 16 at $79,066, traded as low as $77,630.73 and closed at $78,131.43. (farside.co.uk) That close was below the May 15 close of $79,065.68 and well below the May 10 close of $82,138.93. CoinGecko separately listed Bitcoin's May 16 close at about $78,135, broadly matching the move. CoinDesk said on May 14 that Bitcoin had slipped back under $80,000 as ETF outflows accelerated. Cointelegraph also reported May 14 that the funds had logged their largest daily outflow since January while Bitcoin struggled to hold the $80,000 level. Those accounts tied the fund redemptions and price weakness to the same trading stretch, though neither described a single official cause. (coinmarketcap.com) ### What did the Senate committee actually do? The Senate Banking Committee said on May 14 that it advanced H.R. 3633, the Digital Asset Market Clarity Act of 2025, by a 15-9 vote. Chairman Tim Scott said the bill would create "clear rules of the road" for digital assets and move next to the Senate floor. The committee's release described the vote as bipartisan. (coindesk.com) The committee's January fact sheet said the measure would draw a line between Securities and Exchange Commission and Commodity Futures Trading Commission jurisdiction, create a tailored disclosure regime for digital asset projects and preserve anti-fraud authorities. Those descriptions came from the committee majority and amount to its framing of the bill rather than an independent legal analysis. (banking.senate.gov) ### Why are traders watching both flows and legislation at once? U.S. spot Bitcoin ETFs have become a daily gauge of institutional demand because they publish creations and redemptions through listed products rather than through offshore crypto venues. Farside says its Bitcoin ETF flow data are updated in real time and cover the U.S. spot Bitcoin ETF market in U.S. dollars. (banking.senate.gov) Washington's market-structure debate is moving on a separate track. The Banking Committee said the CLARITY Act now goes to the Senate floor, where lawmakers will decide whether to take up the bill after the committee vote on May 14. Bitcoin traders are likely to keep watching the next ETF flow prints and any Senate scheduling notices in the days ahead. (banking.senate.gov) (farside.co.uk)